Pensioners of a firstāgeneration bank have vowed to take to the streets in a nationwide protest, accusing the institution of abandoning them for two decades without reviewing their retirement benefits.
In a statement released on Tuesday, the retirees painted a grim picture of life on stagnant pensions. Many, they said, still receive just ā¦15,000 a month ā the equivalent of ā¦500 per day ā while their annual medical allowance remains at ā¦30,000, translating to a mere ā¦2,500 per month.
āThis is dehumanizing,ā the group declared. āWe gave our best years to the bank, yet we are left to suffer in old age.ā
The pensioners argued that the bank has failed to honor constitutional provisions requiring periodic pension reviews. With inflation at record highs, they say their meagre stipends cannot cover food, rent, or healthcare.
Some retirees confessed to relying on relatives for survival, while others said they had been forced to sell property to pay medical bills.
āWe are not begging,ā the statement continued. āWe are demanding our rights. Twenty years without a review is a betrayal of trust and a violation of the law.ā
The retirees announced that demonstrations will be staged simultaneously across major cities, including Lagos, Abuja, and Port Harcourt. They warned that the protests will continue until management opens dialogue and commits to a timeline for reviewing benefits.
The protest may put a spotlight on the plight of retirees across Nigeria, where pension arrears and unreviewed benefits have become a recurring crisis.
The National Bureau of Statistics has repeatedly warned that inflation is eroding fixed incomes, while the International Labour Organization stresses that fair pension systems are vital for social stability.
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